October 2, 2020 - 5 minutes read

Inflation adjustment on specific rates of excise duty

By The Vellum Team
Tags: , ,

The Kenya Revenue Authority published a notice informing manufacturers and importers of excisable goods and members of the public that the Commissioner General will adjust the rates of excise duty using the average inflation rate for the financial year 2019/2020, as determined by the Kenya National Bureau of Statistics. The adjusted rates will be effective from 1st October 2020. The Commissioner General is required under the Excise Duty Act, 2015 to adjust, annually, the excise duty rates of products with specific rates of excise duty, to take into account the rate of inflation.

This adjustment will have an impact on the price of goods in this last quarter of the year. Kenya is in the process of re-opening its economy after COVID-19 that greatly impacted some sectors of the economy.

Spread the love